As previously reported, the fund received $200m from TRS of Texas. : The manager said CBRE US Development Partners 5, which received the capital commitment from repeat investors from the previous funds in the series, exceeded its capital-raising target at close. As previously reported, the fund received $200m from Teacher Retirement System of Texas, as the fund’s first investor. CBRE GI said with total projected development costs of $1.3bn, including leverage, the fund has already invested more than 90% of its equity in 10 properties in Dallas, Denver, Phoenix, Portland, San Jose and Washington, DC.